Business - Microeconomics

Chapter 11

Oligopoly

11.1 : Oligopoly Competition

11.1 : Oligopoly Competition

An oligopoly is a market structure characterized by large firms that dominate the market, offering similar or identical products. This concentration of ...

11.2 : Type of Oligopoly: Collusive

11.2 : Type of Oligopoly: Collusive

A collusive oligopoly occurs when firms in an oligopolistic market—where only a few companies dominate—agree to work together instead of ...

11.3 : Type of Oligopoly: Non-Collusive

11.3 : Type of Oligopoly: Non-Collusive

A non-collusive oligopoly is a market structure where only a few firms dominate but compete against each other. In this setting, firms are independently ...

11.4 : Oligopoly and its Unfair Practices

11.4 : Oligopoly and its Unfair Practices

An oligopoly, where market power is concentrated among a few entities, can lead to unfair strategies that disrupt the competitive landscape and reduce ...

11.5 : Public Policy under Oligopoly: Antitrust Laws

11.5 : Public Policy under Oligopoly: Antitrust Laws

Public policy plays a crucial role in regulating the behavior of firms within oligopolistic markets to protect consumers and encourage fair competition. ...

11.6 : Differentiating Types of Markets

11.6 : Differentiating Types of Markets

Market structures are classified by distinct characteristics that influence how firms compete and set prices. In the realm of perfect competition, ...

11.7 : Bertrand Competition

11.7 : Bertrand Competition

In a Bertrand oligopoly, companies compete by strategically setting prices rather than engaging in a continuous price-cutting war. Each company ...

11.8 : Nash Equilibrium of a Bertrand Oligopoly

11.8 : Nash Equilibrium of a Bertrand Oligopoly

A Bertrand oligopoly occurs when a few firms compete by strategically setting prices rather than lowering them indefinitely. In this model, firms sell ...

11.9 : Cournot Competition

11.9 : Cournot Competition

Firms indirectly determine price through output choices, rather than avoiding price-setting altogether. Each firm assumes its competitor’s production ...

11.10 : Equilibrium in a Cournot Oligopoly

11.10 : Equilibrium in a Cournot Oligopoly

In the Cournot model, businesses compete based on the assumption that each firm chooses its production quantity by presuming its rivals’ output levels. ...

11.11 : Stackelberg Competition

11.11 : Stackelberg Competition

The Stackelberg model illustrates a type of oligopoly where a leading firm sets its production quantity, anticipating the reaction of follower firms, who ...

11.12 : Stackelberg and First Mover Advantage

11.12 : Stackelberg and First Mover Advantage

The Stackelberg model explains how being the first mover in a market gives a firm a competitive edge. The first-mover advantage is the benefit of ...

11.13 : Differentiated Goods: Bertrand Competition

11.13 : Differentiated Goods: Bertrand Competition

The Bertrand model with differentiated products explains how companies compete on both price and perceived value. The classic Bertrand model assumes ...

11.14 : Equilibrium in a Differentiated-Products Bertrand Market

11.14 : Equilibrium in a Differentiated-Products Bertrand Market

In the Bertrand model with differentiated products, firms compete on price while offering similar but not identical goods. Differentiation softens price ...

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